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HDFC Bank Customers Beware! This new rule will be implemented from August 1 and will directly affect the pocketbook.

Sagar Patel

By Sagar Patel

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HDFC Bank, India’s largest private sector bank, has amended its terms and conditions for credit card holders. The new rules will come into effect from August 1, 2024. The company has said that 1% will be charged for fee transactions using third-party payment apps. A 1 percent fee on the transaction amount will also be applied on fee transactions made through third-party payment apps such as PayTM, CRED, MobiKwik and Cheque.

This is the rule

The payment limit is Rs 3,000 per transaction. 1% charge on utility transactions above Rs 50,000, with no additional charges on transactions below Rs 50,000. However, transactions above ₹50,000 will be charged 1 per cent. There is a limit of ₹3000 per transaction. However, insurance transactions are exempt from these charges. A 1% charge will be payable for fuel transactions above ₹15,000. There will be no additional charges on transactions below ₹15,000. Transactions above ₹15,000 will be charged 1 per cent of the total amount. There is a limit of ₹3000 per transaction.

1% fee on third-party apps

There will be no charges for transactions made directly through the university or school website and its POS machines. Transactions made through third-party applications such as CRED and PayTM will be charged 1%. A limit of ₹3000 will be applied to each transaction. A 3.5% margin fee will apply to all international or cross-currency transactions. The late payment fee structure has been revised from ₹100 to ₹300 depending on the outstanding amount.

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A redemption fee of ₹50 will be charged from customers redeeming rewards via statement credit or cashback. Customers availing revolving credit facilities will be charged 3.75% per month. This will be applicable from the date of transaction till full payment of the outstanding amount. To avail the Easy-EMI option at any online or offline store, customers will be required to pay an EMI processing fee of up to ₹299.

The impact will be visible on the Tata New Plus credit card

Apart from this, HDFC Bank has changed the rules for Tata New Infinity and Tata New Plus credit cards starting August 1, 2024. Tata New Infinity and HDFC Bank credit card users will get 1.5% NewCoins on eligible UPI transactions made using Tata New UPI ID. 0.50% NewCoins will be available on transactions made through other eligible UPI IDs. Tata New Plus HDFC Bank credit card holders will get 1% NewCoin on eligible UPI transactions using Tata New UPI ID and 0.25% NewCoin on transactions using other eligible UPI ID.

Sagar Patel

Sagar Patel

I am Sagar Patel, specializing in business news reporting. With a keen focus on economic trends, market analysis, and corporate developments,

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